What's up everyone? All right? Well today is one of those days where it felt like nothing went the right way from the very beginning. I Drove halfway to work only to get a call that hey Internet's out at work so I had to double back, head home and then set up at home on my old laptop which I don't use for trading. I've got this nice new one that I've been using for trading. It's got.

you know, my hockey is all my layout on it so jumped on the old one. it's it's I've used it for trading before it's you know. I it has this stop software installed but it's not what I'm used to at this point only have one external monitor and you know these are the types of days that it's so important to have that presence of mind that you're not in the right space. You know you've had a couple bumps on the road before the bell rings.

You guys step back and take it easy. the bell rings. I Take a first trade down a thousand. Second trade up twelve hundred.

So I'm now I'm up two hundred on the day. Third trade puts me up fifteen hundred on the day. Fourth trade downs five grand. just you know.

jumped into something really quickly without doing my full due diligence checklist and boom biggest loss of the month. So I'm gonna finish the day down five thousand dollars. I Tried to make back a little bit when I was down thirty five hundred and they just went further into the red and so that's when I finally said that. Tip: Max losses Five grand I'm down $5,100 I'm throwing in the towel I will live to trade another day I Don't want to give back anymore today when the market is clearly not, you know it's just out of my sight I'm just not feeling it.

so I'll be back at it tomorrow. Try to finish off the week Friday with a green day even if it's only 500 bucks. Green is good and then next week recharge refresh Monday morning Hope for some good fall over. Alright, so that's it for me.

Enjoy the recap. As always questions, comments, leave them below. All right everyone. So we're gonna go over the trades from today.

Today is the first red day after a really nice hot streak you can see here it's a good-sized red day. $5,000 max loss. So my max loss on my account right now is $5,000 So because I'm below 5,000 if I wanted to take a trade on CTRM for instance, I could put an order down here at this level and I'm pressing the buy button and she's gonna keep getting rejected, it's not gonna let me take the trade. The only trades I can take our closing orders to closed positions and that's an important thing.

It's important to have a line in the sand somewhere wherever it is, but EDSA This one has been phenomenally frustrating today. You can see I'm red on it. False breakout after false breakout. just very difficult if it ends up ripping here.

I'm gonna be feeling frustration and FOMO on it CTRM Also a frustrating one. some serious false breakouts. look at this stuff and then OPG and just really disappointing. So let's start at the top here with the watch list for this morning: I was actually up well I started the day with a red trade I was down a thousand and then I made that back and was up about 1500 and then I had a kind of impulsive trade on OPG N and I lost five grand on it that put me down 3,500 and then I tried to dig myself out of the hole and lost another 1500 and now I'm thrown in the towel before it gets worse.

So CTRM was our leading gap where this morning this was a 35% pre market unfortunately. I Also kind of started the day just with everything not quite lining up. Internet at the office was down I drove halfway to the office then turned around because I got a message that the internet was offline so came back up to the house. I didn't have my traveling trading station with me so I Trade I'm trading on my one of my older computers today.

you know which is not ideal I only have one external monitor. My internet even here is fiber but feels like it's it is going slow today and I'm not sure why my fiber usually is well over a hundred megabits up and down, but right now is only at fifteen which is weird. I don't know what's going on. So there were some storms that went through overnight I don't know I might have to reset things but by the time I was realizing all that it was like 928 it was getting really close to the Bell.

So my first the first train on CTRM which would have been a breakout over 440 I missed because my internet was all lacked and I didn't I couldn't take the trade because by the time my quotes caught up it had already happened. And but I did buy the first pullback right here and so on. This first pullback I made about $1500 on CTRM and then we added on this pullback right here and made another thousand bucks. So I was up about $2,500 on CTRM and given back 2,000 of that profit unfortunately.

so those are my. That was my first trade on CTRM but I did take a trade on EDSA in the first and a minute in the first minute I jumped in it as it was surging up for the break of five. Now 5:09 was the pivot we were looking at pre market because that was the high of this level right here at 8:55 So I jumped in anticipating that breakout and it flushed right down. This thing dropped all the way to 431.

So I lost a thousand bucks on actually is closer to 1200 as it curled up here I got back in and then I added I quickly sold and I may end up making back $300 or $700 but I I made back and then I gave back because that dropped here from a high of 524, back down to 463 and then it rips back up to 510 and now I'm just getting frustrated looking at it, you know, faking picking us out. Now here, it's back to five high of 513. so this one was tricky. Not not a predictable break of the pre-market pivot that I was expecting.

got stopped out, lost a thousand. made a little bit back, but at this point after before the OPG N trade. but after CTRM and EDSA I was up about maybe $1700 So hey, $1700 is certainly not bad, especially compared to where I'm sitting at this very moment. and but at the same time I think I was.

You know I've been having great green days $65,000 in the last 12 days or so. so I was trying to be a little more aggressive and that's when OPTN hits the scanner right here. I looked at I pulled it up, pulled up the chart as I'm pulling up a chart, I'm typing in the level two. I'm looking at the chart and I press I go ahead and press just one.

It's moving quickly. It's a bounce off of yesterday's lows and the last time we had a good bounce off the lows, it actually made it a pretty nice move. I can't remember which stock it was now is like a week ago. So I went ahead and pressed shift 1 and jumped in and you know next thing I know I'm in this thing with 10,000 shares and then I looked at the spread.

No, it's usually not a good idea to look at the spread after you take the tray. Yeah, and this is a good example of getting a little complacent. Well, you've had a really nice hot streak. Sometimes you can get a little sloppy because you know everything you're trading is kind of working and you get spoiled and you know you fall into some bad habits.

Get little sloppy. So I jump in and then I look at the spread and I'm already down $2,500 between the spread it's 25 cents bread and I've got 10,000 shares and then the spread opens up to a 40 cent spread and I'm down for grand I hit the bid I get another 10 cents of slippage and just like that I'm down four thousand, nine hundred forty-seven dollars. Boom! You know from up fifteen hundred down thirty five hundred dollars that is disappointing. that is the the last.

The last thing that I wanted to have happen so you know I think at this point at they are at that point I was I was just sort of like alright, well that that was that was nasty. That was very disappointing. but you know, let's just shake it off. Yeah, I'm not below my max loss.

so I'll just give this a chance, you know and we'll see what we'll see what happens. and so then I'm watching CTR and it's consolidating through this area. Here it's now broken down and I see it curling up right here and I take this trade I'm thinking all right, it looks like he's gonna break over for 40. that's a pivot and then it might make a move up to 450.

So I jump in here. that ends up being a false breakout fails. So then I lose like $1500 on that trade I go from up 2500 or whatever I don't actually maybe it wasn't me I think I lost a thousand on that trade. So then I'm down 4400 on the day or 4300 and then I took one more trade right through here.

it was on this candle right here. I Bought this candle thinking that at this time we were still holding the nine. we were below the V web and sometimes these sort of pinch at this spot we get the apex point and we break up. In this case, we broke down right.

They're gonna break one way or the other, but this case it broke down and so there I lost another $700 or whatever it is so that you know it's kind of disappointing. Gave back some profit. Here's the typical: EDSA Today hits a high. It makes a new high by one penny and then it drops thirty five forty cents.

So this is the condition of the market today now. Just like almost anything else in in life, you know, as a small business owner, if you're a fisherman, you know these are the conditions of the ocean today. I'm just not catching fish I'm wasting a lot of bait I'm down 5,000 on fuel on bait I'm paying my guys to be out here all day long when there's no fish, when there's nothing happening. Sometimes that's part of the deal.

Being a small business owner and being a day trader, you have to. You have to really consider it like this is your business. It helps you take it more seriously, but it also helps me compartmentalize the the bad days because there are going to be days like today where you know doing all those pretty much the right things doesn't work. Or maybe I get a little sloppy on a trade like Oh PGN because I've been on a really good hot streak and I give back a little bit of profit on unnecessary loss and now I have sort of this moment where I have to make decisions tomorrow about how I'm gonna trade tomorrow Am I gonna revenge trade or am I gonna trade for the pay.

You know what? I can switch over to my IRA account right now and I well you know what? I don't know if I could keep trading I think this max loss goes across both accounts. Let's just double check and just for the heck of it. No, it doesn't So I could go ahead and trade and lose another 5 grand in my IRA account. Okay, but I'm not gonna do that right.

That's not. That would not be a good decision. I'm gonna read the writing on the wall I'm gonna take my stops here and you know, rather than risk more money and take this, you know, $185,000 I've been building over the last year. basically well, nine months I'm just gonna say today, I'm not feeling it I'm gonna step back I'm gonna throw in the towel and I will live to trade another day now tomorrow I Don't want a revenge trade I just want try to finish the week with a green trade I'm I went from being up about 9,000 on the month now to up only about you know, 3,500 four grand.

So this is a decent setback. It's not a great time in the month for a setback. I was talking just yesterday about how now I'm in the driver's seat and I can afford to take a little risk. Well, I took a little risk a little too soon and now I'm not I'm not really the driver's seat in the same way I was yesterday.

now tomorrow if I see something that's gonna require me to take a little risk I'm gonna have to think twice about it because I cannot have another $5,000 red day I Do not want to go red on the month I want this first week of the month to be a week of a profit. but today I have given back most of what I made yesterday the 6,600 I'm still not positive, but I did I have given back most of it? So I've got to be really careful as I finish up the week and going into next week. If today is you know, a sign of you know a little bit of a change or an ebb in the momentum, then I've got to respond to that by slowing down. You know I can't just keep going like super headstrong into a difficult moment.

You know, a difficult period in the market because if I do that, I'm just gonna lose money like today. back back to back to back to back. I may have to be content with five hundred or thousand dollar days and I can do that. That's fine, but I need to accept that that's where and that may not be the case.

Hey, tomorrow we may end up seeing a stock squeeze up 400% and I'll trade it and make ten grand. And it's not a revenge trade, that's just a genuinely strong stock. But if we see things start to shift or start to slow down, I've got to respond to that really quickly. So for those of you guys who have been, you know, hanging with us here for the last 1012 trading days and watching this hot streak, you've seen how quickly in a matter of 10 days, how quickly you can build an account now.

I Haven't been really in an account small account mode here I've just been building my large account, but Sixty-five thousand dollars is is pretty darn impressive for you know, twelve days of training. So you know, of course, a $5,000 read day here may mark the high of this hot streak like any other hot streak I've had. it's up, up, up, sometimes a little down, up up up and then you know at a certain point it gets it gets capped. And so now the question is am I gonna have to stare? you know, multiple stair steps down or next few days Am I just gonna go sideways and then get another loss because that's gonna really mark that you Today was the high or tomorrow I might have a bounce-back day with really great stocks on the scanner or I may have you know, a couple of decent days of 1500 $2,000 where by next Tuesday or Wednesday I'm back to you know, back to up ten, eleven thousand on the month and making my way.

you know, right back towards the goal. So I'm just gonna trade the market I'm in. and you know, yesterday we had some great opportunities today. CTRM I Don't know I mean maybe I shouldn't have overstayed my welcome on it obviously I gave back profit at the same time I've seen this exact same setup go the other way I Suppose today maybe the indicators that it was gonna go this way was the fact that EDSA was pretty bad.

The fact that this did fail so hard earlier in the day you could almost look at this as a Bear Flag off this drop I mean I was looking at it more as a bull flag off of this level, but you could sort of look at it both ways. So definitely you know this might not have been. There may have been some signs through this consolidation that this one probably wasn't gonna break out today. not because not just because of the pattern, but because of what else was happening in the market.

So maybe I was a little bit more stubborn than I should have been. But again, you know this is part of the deal with being a trader and you know the good news is I'll look to trade another day, survive to you thrive one day. you never wanted to empower you. You never want to empower one day to potentially blow up your account.

And that's why on days like this I have a max loss. So even though for some of you guys, losing five grand in one day might be devastating for me, it's it's just that's my daily max loss. so you know max losses happen and I am okay with that. Now if I get to a point where I increase my daily max loss to 7500 or 10,000 which maybe two years from now will be the case right now that feels like an awfully big boss.

7,500 $10,000 Uh, that feels that feels pretty brutal. But I may get to a point a couple years down the road where that would be totally within my risk allowance and it'll be not a big deal at all. And yeah, worth noting. Perhaps you know days when the market is up big I often I often don't do as well and so that could be a little bit of a factor there as well.

That's we'll see, so that's it for me. I'll be back at it first thing tomorrow morning. I Hope you guys have a great afternoon And you know, study up on the recaps and everything else from the last couple weeks because when things are picking up and when they're hot, you really want to try to capitalize on those opportunities Because when things slow down and they get cold, you know you don't want to be trying to force trades. You really want to be able to step back and slow down.

Alright, see you guys first thing tomorrow morning. If you're still watching, you must have really enjoyed that video. So why not subscribe and get email alerts any time? I Upload new content. Remember when you subscribe, you become a member of the Warrior Trading family.